BARBADOS Trends and Developments Contributed by: Debbie Fraser, Joanna M. Austin and Makela Harrison-Yarde, Fraser Law
Fraser Law Upstairs “Ingleside”Corner 7th Ave
Belleville & Pine Road St Michael BB11114 Barbados
Tel: +1 246 427 4340 Fax: +1 246 427 4341 Email: fraserlawoffice@dfraserlaw.com Web: www.fraserlawattorneys.com
Introduction While Barbados may be considered a relatively small M&A market, there is nonetheless significant M&A activity. M&A in Barbados generally involve: • business entities that largely trade and do business with the public in Barbados and the Caribbean region, selling products or providing services; and • transactions within Barbados’ international busi - ness sector – typically the indirect acquisition of subsidiary entities incorporated and registered in Barbados that are part of international corporate structures, with the ultimate beneficial owners residing outside of Barbados. Unlike M&A occurring amongst entities operating in the domestic market, M&A occurring within the inter - national business sector that result in the indirect acquisition of a Barbados subsidiary are not gener - ally public knowledge. This guide will focus largely on Within Barbados in the past two to four years, M&A activity has been consistently experiencing an upward trend across a variety of industries, including energy, wines/spirit, telecommunications, manufacturing, pharmaceutical, automotive, retail and financial ser - vices distribution. Barbados businesses continue to attract foreign investors from the Caribbean region and internationally. Regarding publicly disclosed M&A, March 2025 saw the acquisition of four Barbados holding companies of domestic M&A. Market Activity
Jamaica-based energy companies as part of Exceler - ate Energy, Inc’s acquisition of New Fortress Energy Inc’s Jamaica-based assets for USD1.055 billion in cash. In July 2025, KOSCAB Holdings Ltd, which is part of the Anheuser-Busch In-Vev Sa/NV global bev - erage group, acquired a majority ownership in SLU Beverages Ltd, a majority shareholder of Banks Hold - ings Limited (a Barbados-based company), among other affiliates. On 3 November 2025, Sunoco LP announced the successful acquisition of all outstand - ing shares of Parkland Corporation, the Canadian parent company of SOL Investments Limited (which operates in Barbados and across the Caribbean), in a transaction valued at approximately USD9.1 billion. Across sectors, there have been many smaller M&A. Barbados businesses have remained attractive to owners in the Republic of Trinidad and Tobago and Jamaica, who have driven most of the more recent smaller M&A transactions. • Agostini, a public traded company listed on the Trinidad and Tobago Stock Exchange, acquired 100% of the shares of the holding company of Barbados’ oldest pharmacy and its affiliated phar - maceutical laboratory. The Jamaican Proven Group followed up its 2021 acquisition of 50.5% of the shareholding of Barbados’ largest feed manufac - turer with the 2024 acquisition of a 50.5% share in a real estate entity. • On 1 November 2025, ANSA McAL Limited com - pleted the sale of Standard Distributors Limited, a long-standing Barbadian furniture and appliance retailer, to Term Finance (Trinidad and Tobago) Lim -
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